It is. Jeff Brandes seeks to amend the Florida Constitution to give homeowners a property tax break on home improvements that prevent flooding.
Brandes isn’t the only legislator who likes the idea. At a meeting of the Senate Finance and Tax Committee on Wednesday, other Senators used the debate to praise the joint resolution (SJR 1182), including Pinellas Sen. Ed Hooper.
“My and your Pinellas County real estate appraisers have been very vocal about how excited they are that you are driving this legislation forward. So thank you very much. And for anyone affected by potential floods this is a win and they have to win very badly in this arena, ”said Hooper.
“I’m not used to senators praising my legislation, so I’ll just pass it,” Brandes joked after the debate.
The committee adopted the resolution unanimously. It now comes to his last committee freeze, the funds.
The statement (SB 1186), on which the resolution is based, is intended to help with the flooding problems faced by the state’s homeowners.
“We have different challenges. We have seen that we believe that the change in the King’s tide, particularly in Miami-Dade and some areas of Pinellas County, will create a greater incentive for people to mitigate property risks, ”Brandes told the committee meeting afterwards.
While coastal communities are disproportionately affected by flooding, the law would also apply to home improvement to prevent inland flooding.
In analyzing the bill, statistics from the Federal Emergency Management Agency (FEMA) were quoted according to which more than 1.7 million Florida properties are at risk of flooding in a 100-year storm.
But the property tax break will cost local governments. If the joint resolution is passed by voters, the Revenue Estimating Conference estimates that the tax break will reduce local government revenues by $ 5.8 million for the first year, fiscal year 2023-2024, and continue to turn local government revenues Would lower $ 25.1 million each year thereafter.
“But if you break that down among the (67) counties, the cost of a single county is not very high, and the counties should be able to absorb this very easily, especially when you see the benefit of getting the property values later improve.” Brandes explained.
Under the law, do-it-yourself work to prevent flooding would not be included in the tax assessment of property value. Efforts to contain flooding can range from elevating structures, filling basements, and waterproofing to non-structural measures to mitigate flooding such as electrical panels.
The bill stipulates that after repairs, homes cannot exceed 110% of the original area to discourage homeowners from making major improvements to their homes disguised as flood control efforts.
To become law, the joint resolution would have to be approved by three-fifths of the members of each legislative body. If the proposal were approved by members, it would have to continue to be supported by more than 60% of Florida voters in the next general election in November 2022.
Legislation for house attendants (HJR 1377) is on its way to a final committee freeze, the State Affairs Committee.
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